The stock market ended flat in volatile trade, even as the Bombay Stock Exchange bellwether Sensex recovered from its day's low on strong cues from European bourses.
MUMBAI: The stock market on Tuesday ended flat in volatile trade, even as the Bombay Stock Exchange bellwether Sensex recovered from its day's low on strong cues from European bourses.
The Sensex touched the intra-day low of 15,297.96 and oscillated in a wide range of 536 points as mixed Asian cues triggered selling in the first half of the session.
The BSE 30-share index later settled the day at 15,626.62, a loss of 17.82 points from its last close of 15,644.44 points.
The broader 50-share S&P CNX Nifty of the National Stock Exchange moved up 5.05 points at 4,739.55 from previous close of 4,734.50.
A smart rise in RIL, REL, ONGC, ITC and Hindustan Unilever helped the Sensex recovered from its intra-day low.
However, firms in the capital goods sector suffered major losses. BHEL fell 8.01 per cent and L&T 4.30 per cent. Mahindra & Mahindra dropped 6.52 per cent, Tata Steel 3.71 per cent, Wipro 3.83 per cent, DLF 3.02 per cent and Bharti Airtel 2.60 per cent.
Market players said the trading volume, however, was affected to a certain extent as some jobbers and arbitrageurs were reportedly sidelined by the withdrawal of securities transaction tax benefit under Section 88E coming into effect from April 1.
The government's decision to provide import duty relief on all crude edible oil forms and indications of some more reliefs in a bid to contain rising inflation had sentimental impact on the market, they added.
European indices were up by about one per cent in their early trade, while Asian markets had a mixed close. Taiwan Weighted and Shanghai Composite fell sharply, while Hang Seng and Nikkei gained one per cent each.
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